India Targets $50 Billion Pharma Exports by 2030: Piyush Goyal
Minister Says India's Pharmaceutical Sector Combines Quality, Affordability and Global Trust
- India aims to achieve $50 billion pharmaceutical exports by 2030
- Pharma exports have risen from $14 billion in FY15 to $31 billion in FY26
- Medicines from India now reach over 200 countries worldwide
- iPHEX 2026 to be held in New Delhi from September 7-9
GG News Bureau
New Delhi, 9th June: Union Commerce and Industry Minister Piyush Goyal on Tuesday said India’s pharmaceutical sector reflects the country’s commitment to providing quality and affordable healthcare worldwide, while positioning itself as a trusted global partner in medicine and healthcare innovation.
Addressing the Global Ambassador Meet on the Pharmaceutical Sector in New Delhi, Goyal said India’s approach to healthcare continues to be guided by the principles of Vasudhaiva Kutumbakam and Prime Minister Narendra Modi’s vision of “One Earth, One Health”.
Highlighting India’s growing role in the global pharmaceutical landscape, the minister said the sector has successfully combined quality, reliability and affordability, making Indian medicines widely accepted across international markets.
Recalling India’s role during the COVID-19 pandemic, Goyal said the country not only fulfilled domestic healthcare requirements but also supplied medicines and vaccines to numerous nations, particularly in the Global South and emerging economies.
“Trust, innovation and partnership form the foundation of India’s pharmaceutical strength,” he said, inviting global companies to invest, manufacture and collaborate with India.
The minister noted that pharmaceutical exports have grown significantly from around $14 billion in FY 2014-15 to nearly $31 billion in FY 2025-26, with Indian medicines reaching patients in more than 200 countries.
He added that while India remains a global leader in generic medicines, the industry is increasingly shifting towards innovation-led growth, advanced technologies and higher-value healthcare products.
Goyal said India is well-positioned to serve the world as an innovator, manufacturer, reliable supplier of affordable medicines, partner in advanced healthcare technologies and destination for contract manufacturing.
Describing iPHEX 2026 as a major platform to showcase India’s pharmaceutical capabilities, he urged ambassadors, high commissioners and diplomatic representatives to encourage participation from their respective countries.
Minister of State for Commerce and Industry Jitin Prasada stressed the importance of greater international collaboration in pharmaceuticals and healthcare to build resilient health systems. He said stronger regulatory cooperation and global partnerships would improve access to medicines and enhance public health outcomes worldwide.
Commerce Secretary Rajesh Agrawal outlined the government’s target of achieving $50 billion in pharmaceutical exports by 2030 through a strategy focused on quality, innovation, regulatory excellence and market diversification.
Agrawal said India currently has more than 10,500 pharmaceutical manufacturing units and over 60,000 generic brands spanning 60 therapeutic categories.
He also highlighted that more than 60 per cent of India’s pharmaceutical exports are destined for highly regulated markets, reflecting growing international confidence in India’s manufacturing standards and quality systems.
The event also marked the launch of the curtain raiser for the Global Drug Regulatory Conclave 2026 and iPHEX 2026. A promotional film showcasing both events was released on the occasion.
iPHEX 2026 will be held at Bharat Mandapam in New Delhi from September 7 to 9 and is expected to host over 700 exhibitors, more than 600 overseas business delegates and around 25,000 domestic visitors.
The Global Drug Regulatory Conclave 2026, scheduled for July 30-31, will bring together regulators, policymakers and industry leaders from across the world to discuss regulatory convergence, mutual reliance mechanisms and emerging challenges in pharmaceutical regulation.
The Global Ambassador Meet saw participation from diplomats representing 98 countries, alongside pharmaceutical industry leaders, regulators, healthcare stakeholders and senior government officials.
Officials said the meeting reaffirmed India’s commitment to strengthening international partnerships, advancing regulatory cooperation and enhancing its position as a global hub for pharmaceutical manufacturing, innovation and healthcare collaboration.
